1 Oz Krugerrand
Selling
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Buying
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Daily Gold Market Analysis- 13 March 2025

13 March 2025
OTC Market Data
High
Low
Close
Previous
Change ZAR
Change %
Gold
56689
55814
56666
55922
-744.00
-1.33%

Today’s analysis offers a comprehensive examination of the gold markets, highlighting the key fundamental and technical factors shaping current trends. This report is designed to provide investors with the insights necessary to navigate these markets successfully.

Fundamental Analysis

Gold prices continue to attract buyers for the third consecutive day, edging closer to the all-time high reached earlier. Concerns over tariff uncertainty resurfaced in Asian markets on Thursday, overshadowing the temporary relief provided by Wednesday’s US inflation slowdown. The US Consumer Price Index (CPI) rose less than anticipated across all timeframes, alleviating some fears of an economic slowdown linked to Trump’s tariffs. The annual headline CPI for February increased by 2.8%, compared to January’s 3% and the expected 2.9%. Both the monthly CPI and core CPI rose by 0.2% during the same period.

Gold

Gold prices maintain a positive momentum for the third consecutive day, staying near their all-time high. The market is forming higher highs and developing an ascending triangle pattern, which could be confirmed with a daily close above the record high of $2,956. A move above this level could target the $2,970 mark, and if buyers push past that, a test of the $3,000 psychological barrier could be in play. The 14-day Relative Strength Index (RSI) is above 50, supporting the potential for further gains. On the downside, strong support is seen at the 21-day Moving Average (SMA) at $2,916. If selling pressure increases, prices may dip toward the $2,900 psychological level. The Stochastic Oscillator stands at 80, and the RSI is at 62.

Support 3
Support 2
Support 1
Current Market Price
Resistance 1
Resistance 2
Resistance 3
55650
56041
56469
56737
57068
57469
57750

Indicator Definitions

  • Stochastic Oscillator: Measures momentum by comparing the closing price to its price range over a specific period. Readings above 80 indicate overbought conditions, while readings below 20 suggest oversold conditions.
  • Relative Strength Index (RSI): Assesses price changes to identify overbought or oversold conditions. An RSI above 70 signals overbought conditions, while an RSI below 30 suggests oversold conditions.
Key US Economic Reports & Events
When
Actual
Expected
Previous
Core PPI m/m
4:30pm
-0.1%
0.3%
0.3%
PPI m/m
4:30pm
0.0%
0.3%
0.4%
Unemployment Claims
4:30pm
220K
226K
221K

Conclusion

In the dynamic and constantly changing bullion market, staying updated with both technical and fundamental analysis is essential for making informed investment choices. Our report aims to offer a balanced perspective to help investors navigate the complexities of gold trading.

 

Disclaimer: This report is provided for informational purposes only, based on data from reputable sources, and does not constitute investment advice. ISA BULLION (Pty) Ltd makes no guarantees regarding the accuracy or completeness of the report and disclaims any liability for losses that may result from reliance on this information. Users are encouraged to conduct their own research and consult with professional advisors before making investment decisions. ISA BULLION (Pty) Ltd, along with its directors, partners, officers, employees, and agents, expressly disclaims any responsibility for any direct or indirect loss or damage arising from the use or reliance on the information provided.